Everton’s major shareholder Farhad Moshiri has increased his stake in the Premier League club.

The Iranian businessman acquired 49.9 per cent of Everton after selling his stake in Arsenal in February 2016 and it was announced on Tuesday he had increased his share in the Merseyside club by 18.7 per cent through Blue Heaven Holdings Ltd.

Moshiri, whose personal wealth is estimated at 1.7billion US dollars according to Forbes, has therefore taken his total holding to 68.6 per cent. He is expected to elevate that further to 77.2 per cent by July next year.

A statement on the club’s official website read: “Everton Football Club today announces that major shareholder Farhad Moshiri has further committed to and increased his shareholding in the club.

“Farhad Moshiri previously owned 49.9 per cent of the club and in line with the agreement made at the time of his original investment, he has purchased 18.7 per cent through Blue Heaven Holdings Ltd, giving him a total holding of 68.6 per cent, which is expected to increase to 77.2 per cent no later than July 2019.”

In the third and final part of our series, Michael Alexander speaks to politicians about how they handled the devastating closure of Michelin in Ballymena, Northern Ireland, and asks whether there’s anything Dundee – now facing a similar plant closure in 2020 – can learn.

In the second of a special three-part series, Michael Alexander visits the former Michelin site in Ballymena, Northern Ireland, and speaks to local traders about the impact the closure there is having on high street businesses.

In the first of a special three-part series following the announcement that the Dundee Michelin plant faces closure in 2020, Michael Alexander visited Ballymena in Northern Ireland to find out how the community there is coping with the recent closure of their Michelin factory which led to the loss of 840 highly skilled jobs.